What happens to the maturity proceeds if I’m not living in Singapore when my policy matures?
We will write to the policyholder before the maturity date regarding the payment.
Who will the maturity claim be paid to?
Maturity proceeds will be paid to the legal owner of the policy.
Can I use my maturity proceeds for payment of premiums for another policy or for repayment of policy loans/APL?
Can I transfer my maturity proceeds as full/part payment to a new policy that I want to purchase?
Yes. Kindly inform your servicing Great Eastern Distribution Representative or OCBC Financial Consultant of the request. We shall send you a cheque for the balance maturity proceeds, if any, after the transfer of the maturity proceeds.
Can I authorise my Great Eastern Distribution Representative to collect my Great Eastern Life maturity cheque?
Yes, but we will require an authorisation form signed by you before we can release the cheque to your Servicing Distribution Representative. Please note that the authorisation letter has to be submitted to us at least seven working days before the maturity date.